President Faye returned from an African Union summit addressing the Court of Auditors’ report, assuring Senegalese citizens of his commitment to solving economic issues. The report revealed significant public finance management irregularities, including a debt that has reached nearly 100% of GDP. The president urged trust from the public, emphasizing their ongoing search for solutions despite the challenges.
Upon returning from an African Union summit, President Bassirou Diomaye Faye addressed multiple issues, particularly the recent Court of Auditors’ report on public finances. He communicated optimism regarding the report, emphasizing that it serves as a tool for accountability and transparency for the Senegalese public.
In his remarks relayed by Libération, President Faye encouraged trust among Senegalese citizens, stating, “I ask the Senegalese to trust us. We are relentlessly looking for solutions. The difficulties are real, but we will transform them into opportunities.” This sentiment was expressed despite the economic challenges highlighted in the report.
The Court of Auditors’ report, published on February 12, 2025, reveals serious irregularities in public finance management from 2019 to March 2024. It notes that public debt has surged to 18,558.91 billion CFA francs, constituting 99.67% of GDP, which exceeds the previously stated 74% from 2023.
Additionally, the report indicates that 2,517.14 billion CFA francs in bank debt was incurred without proper budgetary procedures or parliamentary approval. Moreover, the 2023 budget deficit was adjusted to 12.3% of GDP due to unacknowledged off-budget debts and expenditures.
The report also outlines fiscal irregularities, such as unauthorized spending and questionable asset sales, which directly affect citizens’ lives. Increased public debt could lead to higher taxes, diminishing household purchasing power, and fiscal inconsistencies may hinder crucial investments in sectors like education.
President Faye assures the Senegalese populace of ongoing efforts to improve economic governance, despite serious concerns raised in the recent Court of Auditors’ report. Issues of high public debt and fiscal irregularities pose significant challenges that potentially affect citizens’ daily lives. The president’s commitment to transformation signifies a proactive approach to remedying the identified problems and enhancing public trust.
Original Source: www.senenews.com
